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Consolidated financial statement of the Eurosystem as at 8 November 2013

12 November 2013

Items not related to monetary policy operations

In the week ending 8 November 2013 gold and gold receivables (asset item 1) remained unchanged.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.4 billion to EUR 206.8 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
7 November 2013 84-day US dollar liquidity-providing reverse transaction USD 0.1 billion USD 0.1 billion

The liquidity-providing transactions were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangement (swap line) that the European Central Bank has with the Federal Reserve System.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 0.1 billion to EUR 351.6 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.9 billion to EUR 923.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 14.4 billion to EUR 48.3 billion.

Items related to monetary policy operations

The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) decreased by EUR 17 billion to EUR 483 billion. On Wednesday, 6 November 2013, a main refinancing operation of EUR 89.3 billion matured and a new one of EUR 89.5 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 188 billion matured and new deposits were collected in the amount of EUR 184 billion, with a maturity of one week.

During the week, a longer-term refinancing operation in an amount of EUR 10.7 billion was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (similar to the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 62.4 billion (compared with EUR 52.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.1 billion to EUR 241.6 billion. This decrease was due to the redemption of securities acquired under the first and second covered bond purchase programmes. Therefore, in the week ending 8 November 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 184.1 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 42 billion and EUR 15.5 billion respectively. All three portfolios are accounted for on a held-to-maturity basis.

Current accounts of euro area credit institutions

As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) increased by EUR 3.6 billion to EUR 230.6 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 343,920 0
2 Claims on non-euro area residents denominated in foreign currency 243,869 −926
2.1 Receivables from the IMF 82,690 −486
2.2 Balances with banks and security investments, external loans and other external assets 161,179 −440
3 Claims on euro area residents denominated in foreign currency 22,370 194
4 Claims on non-euro area residents denominated in euro 18,709 −2,759
4.1 Balances with banks, security investments and loans 18,709 −2,759
4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 729,686 −10,467
5.1 Main refinancing operations 89,524 205
5.2 Longer-term refinancing operations 640,159 −10,651
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 2 −21
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 83,212 2,805
7 Securities of euro area residents denominated in euro 593,175 −179
7.1 Securities held for monetary policy purposes 241,554 −60
7.2 Other securities 351,621 −119
8 General government debt denominated in euro 28,328 0
9 Other assets 242,163 2,368
Total assets 2,305,431 −8,963
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 923,581 −947
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 477,246 10,144
2.1 Current accounts (covering the minimum reserve system) 230,569 3,634
2.2 Deposit facility 62,442 10,315
2.3 Fixed-term deposits 184,000 −4,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 234 195
3 Other liabilities to euro area credit institutions denominated in euro 5,538 −154
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 89,084 −21,258
5.1 General government 48,315 −14,363
5.2 Other liabilities 40,769 −6,896
6 Liabilities to non-euro area residents denominated in euro 129,496 5,986
7 Liabilities to euro area residents denominated in foreign currency 1,332 91
8 Liabilities to non-euro area residents denominated in foreign currency 4,542 −457
8.1 Deposits, balances and other liabilities 4,542 −457
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,565 0
10 Other liabilities 226,091 −2,369
11 Revaluation accounts 304,534 0
12 Capital and reserves 90,420 0
Total liabilities 2,305,431 −8,963
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